19 Terms
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Life insurance
Industry: Insurance
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Life insurance
Living benefits
Insurance; Life insurance
This feature allows you, under certain circumstances, to receive the proceeds of your life insurance policy before you die. Such circumstances include terminal or catastrophic illness, the need for ...
Loss control
Insurance; Life insurance
All methods taken to reduce the frequency and/or severity of losses including exposure avoidance, loss prevention, loss reduction, segregation of exposure units and noninsurance transfer of risk. A ...
Loss ratio
Insurance; Life insurance
The ratio of incurred losses and loss-adjustment expenses to net premiums earned. This ratio measures the company's underlying profitability, or loss experience, on its total book of business.
Loss reserve
Insurance; Life insurance
The estimated liability, as it would appear in an insurer's financial statement, for unpaid insurance claims or losses that have occurred as of a given evaluation date. Usually includes losses ...
Insurance regulatory information system
Insurance; Life insurance
Introduced by the National Association of Insurance Commissioners in 1974 to identify insurance companies that might require further regulatory review.
Laddering
Insurance; Life insurance
Purchasing bond investments that mature at different time intervals.
Losses incurred (pure losses)
Insurance; Life insurance
Net paid losses during the current year plus the change in loss reserves since the prior year end.
